In the FICC of It

The January 3 flash event in FX markets continues to fuel the news cycle and in this week’s podcast, Colin Lambert and Galen Stops discuss the real impact of algos – widely cited as a major factor in the event – in markets. For once they agree on a central theme in the debate, including Lambert (very reluctantly) shooting down one of his own arguments with Stops last year on trend following, but as always there’s room for divergent views.

Our podcasters also turn their attention to what for many was the surprise move of Chris Concannon from Cboe to MarketAxess, which was announced at the start of last week before focusing in on the latest moves in global attempts to establish a regulatory framework for crypto markets.

The podcast closes with a shout out to every FX traders’ favourite central bank, the SNB, following news of its rather large loss last year.